DVC signs 600-MW PPA with GUVNL to meet Gujarat's power demand
The Centre has approved the power purchase agreement (PPA), which aims at addressing the increasing electricity demand in the western state, he said.
Damodar Valley Corporation (DVC) has signed an agreement with Gujarat Urja Vikas Nigam Ltd (GUVNL) to supply 600 MW of power from its upcoming Raghunathpur Phase II plant in West Bengal, an official said on Thursday.
The Centre has approved the power purchase agreement (PPA), which aims at addressing the increasing electricity demand in the western state, he said.
"DVC will export power to Gujarat for the first time. We have been exporting to southern and northern states and Bangladesh," DVC Member (Finance) Arup Sarkar told PTI.
According to the agreement, DVC will provide power from its upcoming 1320 MW (660 MW x 2) supercritical units in the second phase of the Raghunathpur project.
Currently, the company has two operating units at the location.
The supply will begin after the project is expected to become commercially operational by 2027-28, the official said.
The agreement was signed at GUVNL's Corporate Office in Vadodara in the presence of its Managing Director Jai Prakash Shivhare, Sarkar and DVC Executive Director (Commercial) Sanjiv Shrivastava.
The deal supports GUVNL's efforts to secure a stable power supply, amid rising future energy needs, and DVC stands firmly behind it, the official said.
By 2030, DVC plans to add 3720 MW of thermal capacity to its existing 6687 MW.
The power utility is also adding solar capacity and currently executing a 750-MW project in two phases in association with an NTPC group company, the official added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
02:32 PM IST